Turkish steel mills have resumed their deep-sea scrap bookings at fairly stable prices after a short break, market participants told Fastmarkets on Tuesday September 7.Three steel producers booked four deep-sea cargoes from various locations.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 27,000 tonnes of shredded at $460 per...Read More
Seaborne iron ore prices rebounded on Tuesday September 7, although buying activity remained sluggish for mainstream iron ore fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $137.97 per tonne, up by $5.59 per tonne62% Fe low-alumina fines, cfr Qingdao: $138.10 per tonne, up by $5.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $110.69 per tonne, up by $5.99 per...Read More
Seaborne coking coal prices across the board increased further on Tuesday September 7, with limited materials available for the spot market, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $457.81 per tonne, up $7.20 per tonneHard coking coal, cfr Jingtang: $431.42 per tonne, up $6.31 per tonnePremium hard coking coal, fob DBCT: $283.81 per tonne, up $7.21 per tonneHard cok...Read More
The possibility of tighter production cuts in China in early 2022 has led to a drop in raw materials prices across the ferrous chain in China, sources told Fastmarkets on Tuesday September 7.Stricter production policies in China put pressure on scrap demandJapan-origin offers to China remain unchangedTaiwan buys containerized scrap at $450 per tonneChinaThe Chinese government's stricter stanc...Read More
China imported 97.49 million tonnes of iron ore in August, down by 3% from 100.36 million tonnes one year earlier but 10% higher month on month after a four-month decline, Chinese customs data showed on Tuesday September 7.Last month's imports are 8.99 million tonnes higher compared with July's 88.5 million tonnes.August's import levels also mark the third high point...Read More
Spot prices for hot-rolled coil prices in China's domestic market were unchanged on Tuesday September 7, subdued by continued weakness in demand but supported by the ongoing production curbs.DomesticEastern China (Shanghai): 5,800-5,850 yuan ($898-905) per tonne, unchangedThe most-traded HRC contract on the Shanghai Futures Exchange hit 5,889 yuan per tonne in overnight trading, its high...Read More
China's domestic rebar prices continued to trend upward on Tuesday September 7 but trading activity fell in response to the increases.DomesticEastern China (Shanghai): 5,320-5,370 yuan ($824-831) per tonne, up by 40-60 yuan per tonneRebar futures traded above Monday's settlement price of 5,427 yuan per tonne throughout the day on Tuesday.Sellers - already expecting lower steel production rates to...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed on the morning of Wednesday September 8. Aluminium, nickel and zinc prices on the LME were holding up well, while copper, tin and lead look more vulnerable.* Federal Open Market Committee member James Bullard said the Federal Reserve should start tapering, which has lifted US treasury yields and the dollar...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.The Canadian Dollar was virtually unchanged at US78.97 cents prior to the Bank of Canada's update on Canada's monetary policy at 10:00 AM EDT. Consensus expects no change in Canada's overnight lending rate to major Canadian Banks.PayPal added $4.13 to $297.39 after announcing purchase of a Ja...Read More
Here are five Fastmarkets stories you might have missed on Monday September 6 that are worth another look.Continued low demand for aluminium in Japan, unchanged since August, has weighed on fourth-quarter negotiations for the main Japanese ports (MJP) aluminium premium, which started around August 24. Multiple sources reported on Monday September 6 that the first producer to extend the offer of $2...Read More
Base-metals prices on the London Metal Exchange moved in different directions at the close of trading on Monday September 6, with aluminium continuing to reach new highs, while metals such as lead and tin ended the day on the back foot.Lead's three-month price was $2,275.00 per tonne on Monday at 5pm, dropping from last Friday's price of $2,310.50 per tonne.The metal reached a year-to-date peak of...Read More
Continued low demand for aluminium in Japan, unchanged since August, has weighed on fourth-quarter negotiations for the main Japanese ports (MJP) aluminium premium, which started around August 24.Multiple sources reported on Monday September 6 that the first producer to extend the offer of $230 per tonne has put back its quarterly negotiation deadline by one week to September 10, but it will not l...Read More
Brazilian exports of alumina increased by 7.25% year on year in August, due to volumes from Alunorte more than offsetting the drop reported by Alumar, according to data published by the economy ministry on Monday September 6.Alumina exports totaled 607,160 tonnes during August, up from 566,101 tonnes a year before. On the other hand, volumes were down by 18.37% in comparison with 743,794 tonnes in...Read More
The latest data for the global manganese ore market for theweek ended Monday September 6, 2021.Read More
The gap between seaborne and portside manganese ore prices, which had lasted throughout most of this year, came to a closing point in the week ending Friday September 3 after seaborne prices weakened once again, whereas port markets remained resilient.Traditionally in the manganese market, seaborne prices are lower than portside prices to incentivize buying interest. But the situation reversed thi...Read More
The European manganese alloys markets, currently trading around 13-year price highs, were likely to rise further - at least in the short term - due to firm fundamentals of tight availability and strong demand, Fastmarkets heard on Monday September 6.Other factors such as an acute shortage of shipping containers and record high freight rates were also making replacement costs very expensive, while...Read More
Turkish domestic scrap prices dropped over the past week amid weakening imported scrap values, market participants told Fastmarkets on Monday September 6.Turkish mills continued their deep-sea scrap purchases last week, albeit at a slow pace.Fastmarkets' index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $ 440.25 per tonne on Friday September 3,...Read More
Base metals prices on the London Metal Exchange were on divergent paths on the morning of Monday September 6, after a weaker-than-expected US jobs report on Friday sent out mixed signals.But base metals prices on the Shanghai Futures Exchange were generally stronger this morning while they tracked the gains seen on the LME on Friday, which came despite the disappointing data from the United States...Read More